Trials and tribulations of a Debt Free Wannabee!

savingholmes

I still can't believe the £10 a day challenge money - and how successful I have been at raising that - that is the bit that enables me to then hopefully pay off around £1K in December (about £700 more than November !!!) - as the challenge money is my guilt free spends so I'm happy to dedicate so much of our wage then to debt clearance.

I need to buy DS a day bed from ikea - but earlier in the summer we got £15 in vouchers for taking books in so that will go towards that cost. The £50 OH got from today's little job will also go towards that... So then have another £100 or so to find... Depending on when I get it - I can use the £72 from my M&D towards that and so on... I never used to think like that before.....

clearmydebts

savingholmes wrote: »

I still can't believe the £10 a day challenge money - and how successful I have been at raising that - that is the bit that enables me to then hopefully pay off around £1K in December (about £700 more than November !!!) - as the challenge money is my guilt free spends so I'm happy to dedicate so much of our wage then to debt clearance.

I need to buy DS a day bed from ikea - but earlier in the summer we got £15 in vouchers for taking books in so that will go towards that cost. The £50 OH got from today's little job will also go towards that... So then have another £100 or so to find... Depending on when I get it - I can use the £72 from my M&D towards that and so on... I never used to think like that before.....

Neither did I and I would have laughed at paying off £5 here and there but now I truly believe that the little chunks turn into big chunks!

savingholmes

clearmydebts wrote: »

Neither did I and I would have laughed at paying off £5 here and there but now I truly believe that the little chunks turn into big chunks!

And it is that change as much as anything else that is helping us reduce our debt!

Last week I wrote down in my journal some of the savings we'd made compared with when I first joined....

• treat and holiday spend down as a result of getting 2 free holidays - probably saving at least £1k to £1.5K this year!
• Car insurance down £100 plus £70 cashback per year
• Given new motorbike worth approx £5K!
• Gas and elec down from £110 to £73 pcm - diff of £37pcm
• Water down from £63 to £17 (metered) pcm diff of £46 pcm
• Home ins down from £56 to £17 pcm diff of £39 pcm
• Grocery bills down by at least £80 pcm
• takeaway restaurant spend generally down 75% with the odd blip!
• phone and internet costs down average £20 pcm
• all gifts covered by £10 a day challenge as usually are holidays, misc spends etc
• childcare costs dropped dramatically - probably at least £100-200 pcm - partly due to diff childcare provider where only pay when use and partly as DS now older. I also pick kids up 1 day per week
• Using an umbrella company - means I can claim mileage and meals back - giving me £200 extra per month (but mileage is 400miles per week and this job is lower paid than previous)
• Debts decreasing so interest and transfer fees less
• Significantly reduced charitable giving - while focus on repaying debt... Still give some... and try to volunteer our time more instead
• At the moment don't have a cleaner either (altho I do want her back) - saving £88 to £100 pcm

Hope that helps someone reconsider their spends and where they can make savings too!

bigzippy

savingholmes wrote: »

May need to post my nieces presents as not sure when I will see them

I can help with that SH, save on postage costs.:)

savingholmes

I wondered if you would be seeing them... I am working on the basis we will see you at some point separate from the rest? Perhaps email or pm me....

Nice to save on postage tho... don't want to do an M&D and hold them to ransom with come if you want a pressie thing....

clearmydebts

That is really impressive. I should do one of them myself!

You should be really proud of yourself.

savingholmes

Hi CMD and others - look forward to seeing your lists of savings - might challenge me to have another look at mine LOL

Verbatim

Impressive list SH.

Hope your salary is hefty and in bank promptly tomorrow.

Vx

gilligansyle

Hi just popped by to say hello, those savings look really impressive. So much better when you see it all put down on paper, so to speak.
I have found the payment a day thing one of the best for me, just little payments but they are making a difference.
I am thinking of doing one of the money challenges next year, but need to decide what to do. BB is finishing soon, and none of the other bingo seem to be quite as good.

BEAT_THE_DEBT

Hi sholmes fantsic list i have done a similar thing in my head will get it down on paper to look at its motivating! Well done here's to 2010!xx